SANJEEV JAIN,DEHRADUN vs. DCIT, CENTRAL CIRCLE, DEHRADUN

In the result, appeal of the assessee is allowed

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi

section 24 (b) where the property has been acquired, constructed, repaired, renewed or reconstructed with borrowed capital, the amount of any interest payable on such loan is granted as deduction. As assessee is merely a co applicant for the loan and not an owner of the house property, he disallowed the claim of the interest expenditure of ₹ 2 lakhs made

SAURABH AGARWAL,U S NAGAR vs. ACIT, CENTRAL CIRCLE, HALDWANI